April 13, 2016: Compare Financial Aid Offers

posted Jun 6, 2016, 3:58 PM by Kristin Hannon

College Readiness NewsletterApril 13, 2016

Weekly College Update

Dear Senior Snow Leopards, Bulldogs, Thunderbirds, and Huskies,

Over the next two and a half weeks leading up to National Enrollment Day on May 1st, you all have some very important decisions to make! For many of you, a major factor in that decision-making is going to be the cost of attending college. It’s very important to take time to understand your financial aid packages, which can be a confusing process.

This week’s focus is how to understand and compare your financial aid offers.

In an upcoming Community Time lesson with your mentor, you’ll break down the different components of a typical financial aid offer, learn about what type of aid you should accept first, and practice comparing two financial aid letters from different colleges. In addition to that lesson, I want to share with you some tools that might be helpful as you work to understand the details of your offer letters:

This calculator allows you to input the amount of your student loans and interest rates, and it provides you with an estimate of the amount of your monthly loan payments and minimum salary you would need to live comfortably and repay your loans after graduation.

Next week, I’ll continue on this topic by addressing some financial aid FAQs. In the meantime, don’t hesitate to approach your mentor with your questions or send an email to khannon@summitps.org. We know that financial aid is complicated and we’re here to help!

Dreamers Roadmap: A New App to Help Undocumented Students Find Scholarships

LendEDU ScholarshipWho can apply: high school senior with at least 2.5 GPAAmount of the award: $1,000Information/Application: LendEDU ScholarshipDeadline: April 15, 2016

Frank Merino Award ScholarshipWho can apply: high school seniors with at least 3.0 GPAAmount of the award: variesInformation/Application: Merino Scholarship ApplicationDeadline: April 29, 2016

AMVETS National ScholarshipsWho can apply: high school seniors who are children or grandchildren of active military or veteransAmount of the award: $4,000Information/Application: AMVETS.orgDeadline: April 30, 2016

PFLAG National Scholarship Who can apply: high school seniors who identify as LGBT or alliesAmount of the award: variesInformation/Application: PFLAG ScholarshipDeadline: April 30, 2016

Toptal STEM Scholarships for WomenWho can apply: all female students Amount of the award: $5,000Information/Application: Toptal STEM ScholarshipsDeadline: 1 winner a month chosen now through November 2016